What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
Senator · Senate District 40
History
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 50–8
- Ordered to third reading cal.1205
- Committee discharged and committed to rules
- Reported and committed to finance
- Referred to investigations and government operations
- Returned to senate
- Died in assembly
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 53–10
Show 4 earlier actions
- Ordered to third reading cal.1378
- Committee discharged and committed to rules
- Reported and committed to finance
- Referred to investigations and government operations
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S2648 REVISED MEMO 05/22/2014
Title of bill
An act to amend the tax law, in relation to the metropolitan commuter transportation mobility tax rates on earnings from self-employment
Purpose
This legislation would repeal the imposition of the metropolitan commuter transportation tax on earnings from self-employment.
Summary of provisions
Section One - amends paragraph 2 of subsection (a) of section 801 of the tax law, as amended by section 1 of part N of chapter 59 of the laws of 2012 to state that for individuals with net earnings that are attributable to the MCTD from self-employment of individuals if such earnings attributable to the MCTD exceed two hundred and fifty thousand dollars for the tax year, the tax is imposed at a rate of (A) eleven hundredths (.11) percent of the net earnings from self-employment if such earnings attributable to the MCTD are greater than two hundred and fifty thousand dollars but do not exceed three hundred thousand dollars in any tax year, (B) twenty-three hundredths (.23) percent of the net earnings from self-employment if such earnings attributable to the MCTD are greater than three hundred thousand dollars but do not exceed three hundred and fifty thousand dollars in any tax year, and (C) thirty-four hundredths (.34) percent of the net earnings from self-employment if such earnings attributable to the MCTD are greater than three hundred and fifty thousand dollars in any tax year.
Section Two - states this act shall take effect on the first of July next succeeding the date on which it shall have become law.
Justification
In 2011, the metropolitan commuter transportation tax was repealed for approximately 289,000 businesses with annual payrolls below $1.25 million. More than 6,000 businesses with payrolls between $1.25 and $1.75 had their payroll tax cut by as much as two-thirds.
Under the current law, self-employed individuals who earn over $50,000 a year are still paying the metropolitan commuter transportation tax. This legislation will repeal the metropolitan commuter transportation tax for self-employed individuals who earn less than $250,000 annually.
This legislation will also reduce the amount that self-employed individuals who earn from $250,000 to $300,000 to .11 percent, and self employed individuals who earn from $300,000 to $350,000 to .23 percent.
Legislative history
06/20/12 - S.7165-A Passed Senate 06/17/13 - S.2648 Passed Senate
Fiscal implications
To be determined.
Effective date
This act shall take effect on the first of July next succeeding the date on which it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.